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OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period

OPEC

OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period

Crude
14-03-2020

Saudis Sell Oil at $25 in Market Share Grab from Russia
Saudi Arabia is preparing to flood markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, as its price war with Moscow heats up, sources told Reuters news agency on Friday.
Oil & Gas Trade
13-03-2020

Oil Crisis Deepens in Libya as Losses Exceed $3 billion
The oil crisis in Libya is deepening as a blockade of the country’s vital oil fields generated losses of more than $3 billion, the national oil corporation announced late Thursday.
Oil & Gas Trade
13-03-2020

COVID-19 Impact on Chinese LNG Imports Dwindles
China's liquefied natural gas (LNG) imports during March have reached the same levels as last year's figures. Recent data has revealed the coronavirus impact is dwindling.
Oil Price
13-03-2020

Oil Price War Expands as United Arab Emirates Joins Saudi Ally
The United Arab Emirates has joined ally Saudi Arabia in opening the oil floodgates, broadening the front against Russia in a price war.
Oil & Gas Trade
13-03-2020

Saudi Arabia Unveils Plans to Maximize Oil Output, Escalating a Price War with Russia
OPEC kingpin Saudi Arabia unveiled plans Wednesday to dramatically ramp up oil production, raising the stakes of an all-out price war with non-OPEC leader Russia.
Oil Field
12-03-2020

Turkey Proposed Joint Management of Oil Fields in Syria With Russia
Turkey's President Tayyip Erdogan said he asked his Russian counterpart Vladimir Putin to jointly manage oil fields in eastern Syria's Deir al-Zor region, in place of the Kurdish-led forces which control them now.
Oil & Gas Trade
12-03-2020

Oil Price crash: 3 Things You need to Know Today
On Monday 9th March 2020, the oil price saw its biggest fall in 30 years. Here’s our analysts’ rapid response to the oil price crash. Look out for more detailed analysis in the days and weeks to come.
Oil Price
12-03-2020

Lower Oil Prices to Provide Tailwinds to Indian Economy
The present run of lower oil prices will bring significant benefits for the Indian economy as reduced import bill and lower current account deficit and inflation could have a positive impact on GDP growth, Kotak Institutional Equities Securities said in i
Oil & Gas Trade
11-03-2020

China to Bump up Strategic Oil Reserves After Price Crash
Citing people with knowledge of the matter that China is considering the possibility of ramping up the country's strategic oil reserves by buying crude now, especially after the recent price crash.
Oil Price
11-03-2020

US Shale Supply Badly Hit by Oil Price War
Following the WTI price fall to around $30 per barrel due to an oil price war between Saudi Arabia and Russia, US shale production has been badly hit. The outlook is quite difficult for indebted shale operators, says an analyst.
Oil & Gas Trade
10-03-2020

How a Saudi-Russian Standoff Sent Oil Markets Into a Frenzy
Moscow refused to accept production cuts to offset the effect of the coronavirus outbreak. Now Saudi Arabia is trying an alternative: inflicting pain.
Oil & Gas Trade
10-03-2020

IEA: Oil Demand To Drop For First Time Since 2009
Global oil demand is set to drop this year for the first time since the financial crisis in 2009, the International Energy Agency (IEA) said on Monday, as it slashed its demand outlook by 1.1 million bpd due to the coronavirus outbreak and its impact on e
Oil Price
10-03-2020

Saudi Arabia, Russia Brawl Creates Crude Turmoil
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signalled they would hike output in a market already awash with crude after their three-year supply pact collapsed.
Crude
09-03-2020

Coromavirus Now Poised to Wipe Out Most of 2020 oil Demand Growth, No OPEC Cure in Sight
The spread of coronavirus continues to deepen the severity of the blow to global fuels demand. Rystad Energy now expects more than half of global oil demand growth to be lost in 2020. As global stocks increase by the day, the ongoing OPEC+ meeting is unli
Crude
09-03-2020

Australia Inks Deal With U.S. for Access to Strategic Petroleum Reserve
Australia said it will sign a deal with the U.S. this week giving it access to crude oil from to America’s Strategic Petroleum Reserve during an emergency.
Oil & Gas Trade
09-03-2020

Aramco Shares Fall 9%; Below IPO Price for First Time as OPEC Pact Unravels
Shares of Saudi state oil company Aramco (2222.SE) slumped below their initial public offering (IPO) price on Sunday for the first time since they began trading in December, after OPEC’s pact with Russia to restrict oil supplies fell apart.
Oil Price
09-03-2020

Oil Prices Dive as Saudi Arabia Takes Aim at Russian Production
Russia on Friday rejected an agreement with OPEC on cuts in oil supplies to bolster prices.
Oil Price
08-03-2020

Wall Street Oil Outlook Crumbles as Goldman Sees Contraction
Goldman Sachs Group Inc. became the first major Wall Street bank to anticipate that global oil demand will contract in 2020 for only the fourth time in nearly 40 years.
Oil & Gas Trade
08-03-2020

Saudi Arabia to up Oil Production after Opec Deal Falls Through
World’s largest oil exporter Saudi Arabia is planning to ramp up production to nearly 11m barrels a day in April after the three year alliance between oil cartel Opec and Russia collapsed last week.
Oil & Gas Trade
07-03-2020

Kazakhstan in Talks with PetroChina after Force Majeure on Gas Supplies
Kazakh natural gas exporter Kaztransgas is discussing further gas supplies with PetroChina after it issued a force majeure notice citing the coronavirus outbreak, the Kazakh firm said on Friday.
Crude
07-03-2020

OPEC’s Pact with Russia Falls Apart, Sending Oil Into Tailspin
A three-year honeymoon between OPEC and Russia ended in acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production.
Oil & Gas Trade
06-03-2020

CNOOC Has Fully Resumed, Recovering From the Effect of Coronavirus
On March 6, the reporter learned from China National Offshore Oil Corporation that, with full coordination efforts, up to now, CNOOC's projects under construction have been fully resumed.
Oil & Gas Trade
05-03-2020

OPEC+ Stuck Yet Again as Saudi Arabia and Russia Disagree on Output Cuts
The OPEC+ found itself stuck yet again, after a day of talks that ended with its two most important members split over whether they should deepen production cuts to offset the huge demand hit from the coronavirus epidemic.
Oil & Gas Trade
05-03-2020

Saudis Lobby for Million-Plus-Barrel OPEC Cuts, Extending Oil’s Gains
Oil rose for a third day after Saudi Arabia pushed for a deeper output cut than OPEC’s technical committee recommended a day earlier.
Oil & Gas Trade
04-03-2020

Oil Looks Into Abyss as Coronavirus Threatens Demand Contraction
Flights canceled in Europe, schools closed in Japan, towns quarantined in Italy and panic in California. The coronavirus crisis has gone global, and with it, its impact on energy demand.

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